USDJPY Daily Analysis – February 3, 2017

USDJPY’s downward movement from 118.66 (Dec 15, 2016 high) extended to as low as 112.05. Further decline could be expected over the next several days, and next target would be at 110.00 area. Near term resistance is at 114.00, only break above this level could trigger another rise to test 115.62 resistance.

usdjpy chart